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to grow the economy, shrink government and create confidence that we are not greece. and, oh, heck, my friend steve kroft lobbed a bunch of softballs at president obama and hillary clinton in his "60 minutes" interview last night. and you know what, folks, we still do not know what happened on that tragic, awful night in benghazi when four people were killed. the administration spun two separate stories, we still don't know the narrative. all that, the "kudlow report" starts right now. >>> first up tonight, it could prove to be the most significant immigration reform in years. bipartisan group of four democratic and four republican senators unveiling their blueprint this afternoon for border security, guest worker cards, more foreign brainiacs and employer verification, maybe even a path to citizenship. cnbc's own eamon javers joins us now with the details. good evening, eamon. >> well, we've almost gotten out of practice at watching bipartisan groups of senators hold press conferences here in washington. that's not something we're used to seeing. in recent months, anyway. but the sena
driven economy to consumption. so you're probably not going to see double digit growth but i think 8% is in the cards. >> is the u.s. still the best place? >> yes. >> to invest, guys? >> mandy, what is frightening here is that we all agree that some of the best opportunities are overseas. perhaps those markets need to play catch up here. i would also add that commodities have been an area left in the dust. if the fed is very successful, igniting inflation, which may be in the cards in the future commodities would be a place to hedge someone's portfolio as they get out of bonds into equities right now. very quickly we're noting today apple is, let me put it this way. exxon is close to overtaking apple as the most valuable stock in the world. significant at all? are you guys watching that at all? >> we are watching it. it is old schools coming back to modern day trading markets that are here. we've all watched apple. we've seen the run in apple. everyone is very familiar with the stock and the products. it just got to prices that were way too lofty for retail investors and when we star
& noble, dagen and connell. they will close a third of their stores. it is a tough economy. people are moving to digital. this may bode well for amazon.com. barnes & noble down nearly 2% today. barnes & noble say they will close one third of their stores over the next decade. let's take a look at the broader market. the dow down about ten points. much like the nasdaq composite and the s&p 500. they are all hovering near the unchanged line. the retail, drugged and bank index all have done okay with down arrows. connell: a team of a bipartisan senators have come together with their own plan on immigration reform. dagen: peter barnes is on capitol hill with the very latest. peter: this group of eight editors can't bipartisan group, for democrats, for republicans, trying to get out before the president speech tomorrow in nevada. now, the senator's proposal includes increase and verifiable border security and tracking of legal immigrants making sure that they believe when they are supposed to, mandatory employment verification, green cards for top floor and college students who are gett
on the need to reduce the deficit in a balanced way that will help the economy grow, amongst democrats on the hill, and, a few republicans, the barrier to progress here is not the president. we need to see more republicans and congress -- in congress willing to compromise, even on revenues. >> chris: they say they need to see the president willing to compromise on spending cuts and entitlement reform. >> let's look at what we offered speaker boehner. it is public. $400 billion in health care savings we offered, and $200 billion of additional cuts in domestic spending and a trillion dollars in savings and look at where we started the negotiated process and the speaker, we went more than halfway. >> chris: is the president still willing to adjust the cost of living increase for entitlements, is he still willing to raise the eligibility age for medicare? are those still on the table? >> i will not talk about specifics that may be in the package. it is will report in the discussions with speaker boehner we were willing to entertain the cost of living adjustment. but, the overall package, w
, sort of an identity crisis? do we want to be a country driven by a vibrant, private economy, or are we starting to look like a mature european country? essentially, the question is can you have small government with an aging population on top of the other programs that was cited that the presidentments. >> no doubt we're on an unsustainable path, and democrats acknowledge it, but as far as whether they're going to cut programs we have and seen mayor cuts to the programs, republican says we are getting like greece. the only thing to change the equation is to make the tough decisions that president obama said himself in the initial inaugural address in 2009 is that he was going to make tough decisions. congress and the president have not made tough decisions. we may have to get downgraded again. the credit rating agency force action on capitol hill which could spur action. liz: interesting what bob said. when you talk to ratings agencies, you know, yes, they acted like the bar tenders at a party, handing out ids to anyone on wall street, but the u.s. is not agenting like an aaa country.
to attribute all this do. we'll talk to gouldsby about jumging the economy. i don't know if he's good about -- >> he's been pretty spot on. >> but we're going to hear up some of the party line from him. i saw some of the stuff he says. we're going to find out why we're doing a little better and is whether it's going to continue. let's get the national forecast now. oh, my man is back, the weather channel's reynolds wolf. i told you that the last time. cold weather. >> that's right. >> climate change, snow climate change, no snow, climate change. any variability. and we know about weather over the years, over the millions and billions of years. we know that it never -- the median line is because of all this variability. so it goes like this and then we get to the middle. but now, anything that is not right on that middle average is now seen as, oh, something is happening. >> reynolds is going, what? >> no. he is with me. he knows exactly what i'm saying. every single thing is because of co2 emissions now, reynolds. >> i am just absorbing this. i am just absorbing this. no, we have to talk, m
have a spirit of innovation here in washington that haswe are not done. [applause] a new world economy is emerging from the depths of this recession, and while its contours and relationships are not fully understood to us, we do know two things, one. with our uniquely powerful fusion of values and talents, washington state has the potential to lead the next wave of world-changing innovations. two. the world will not wait for us. global competition for the jobs of tomorrow. leading this next wave of growth entitlement. we must move, swiftly and boldly, to put this recession behind us, and bring forward a unique economic strategy that much." today, i'd like to share my vision of the path ahead. i know that to achieve this vision we must all work together. democrat and republican, house and senate, east and west, to answer the challenges of our age. i have represented both sides of our state, first as a state representative from yakima valley, then in congress representing both eastern and western washington. i want to thank the people of washington for electing me your governor. [applaus
the economy has got to be at the very, very top. second of all in my view, when scientists tell us that if we don't get a handle on global warming, the planet may warm by eight degrees by the end of the century with devastating consequences, of course we have to move away from fossil fuel in a dramatic way. transform our energy system. by the way, we can create jobs doing that. right now our republican friends, when you talk about want to do entilement reform, it's not entitlement reform. let's be clear. it's massive cuts in social security, medicare, veterans programs, medicaid. >> you know their argument is that you can't just raise taxes. you have to, at some point, you have to get your fiscal house in order and that means cuts to some of these entitlement programs. >> no it does not. when you talk about getting your fiscal house in order, that's correct, but our republican friends forget to mention that at 15.8%, revenue compared to gdp, that is the lowest percentage in 60 years. when clinton gave us a balanced budget, revenue was about 20%. we have one out of four corporations, profitabl
that's bullish for the economy. >> if you look at some of the trucking names. normally take out the airlines. the airlines have done quite well if they reduced capacity although if you look at some of the reports i think it was u.s. air, but i believe they said that some of their seats were down a bit even though they cut capacity. that was a little bit of a warning sign. even on trucking side it was okay. but now as a trader and investing in the market you have to hook six months ahead. what will happen coming down. we know everything is done well. we know they are up 7%. what's the next move. that's where you get concern. >> we look at the leading indicators. pmi from china, europe, u.s. today the leading indicators in that sentiment indicator is telling us we're not done. we could bleed higher in terms of economic sentiment and economic activity and the new orders component the global pmi looks like it will print above 50 in january for the first time in eight months. >> i'm sure there's a stock market correction. >> when? >> the stock market among other things including what
and taxes even more, whether it is cap and trade, regulating our economy and raising the costs for every american, they are feeling emboldened right now. and if conservatives stand together, we can stop that, and stopping bad things that would harm this country, that would harm americans, is a major victory for the next two years. [applause] but the third thing we can do in the short term is we can use leverage points to plaque real progress on the fiscal and economic crisis threatening this country. the fundamental dynamic when you have divided government is that whichever side owns the default is in the stronger position. either party can stop anything. so whoever wins if nothing gets done, wins the negotiation, wins the battle. it's why on fiscal cliff we got such a lousy deal. because if nothing happened, the result was a massive tax increase on er american who pays taxes, and i think president obama was perfectly fine, he was serene to go off that cliff. why? because his substantive agenda, which he doesn't hide from, is to dramatically expand the size and power of government, and t
that health care is now a huge part of our economy. accounting for almost 30% of gdp. that is to point trillion dollars. -- that is two trillion dollars. i am sure the policy students play a drinking game while watching programs like this on c-span based on how many times the word "unsustainable" is repeated. those same 2011 spending figures released earlier this month revealed that for the third year in a row aggregate spending grew by just 3.9%, the smallest increment in decades. to paraphrase ross perot's running mate in a debate many years ago, "why are we here?" at least one response to that question is we do not know if the health-care cost dragon has been slain or is just hibernating. how much of the slow increase comes from the sluggish economic recovery where people without insurance postpone care over which they don't have any kind of discretion at all, and what about the chronic conditions that continued the development of more sophisticated and expensive treatments and tasks? and for the most expensive health care program there is the fact that 10,000 baby boomers are joini
the count kraoe which has not occurred. we are more divided than before. and get the economy on a surround recovery to get out of a recession that we've had. the pieces of business hangover the president. he has proven that you can get reelected in a weak economy, which a lot of people, myself included thought would be more tkeufpbt it turned out t difficult it turned out to be. it was a narrow election. he has that ahead of him. not to mention the things that haunt a second term which none of us can imagine today. >> you can see former president clinton and secretary of state clinton. who is going to be testifying before congress in a less friendly atmosphere later this week. i was reading obama's first inaugural address today, because i thought, you know, let's get a sense of what it is that he said four years ago. i want to read you two lines. on this day we come to proclaim an end to the petty grievances and falls promises the recriminations and warn out doug mas that for far too long have strangled our politics. that is an incomplete at best. not all the president's fault but also cou
market economy and grow the business in a slow growth world economy. again, reflecting slow growth overall. i think they had strong numbers when it came to agency. some of those numbers up by 18%. volume was driven by agriculture with robust tales in latin america and a strong selling to the north american selling season along with increases in asia pacific for performance materials, electronics and communications and performance chemicals. >> the stock was higher a year and a half ago or so. but in terms of the last year, it's getting -- it's sort of the in the mid point of the trend. coming back, at least trying to get back to where it was earlier. all-time highs are at about 58. >> in corporate headlines, more developments in the boeing story. there are indications now that the dream liner could stay grounded longer than initially anticipated. investigators turning to the maker of the lithium ion batteries that are used in the planes. that is gsyausa. investigators visited the batterymaker yesterday. shares of boeing have started getting to the low end of the range after some ch
. there is definitely a lot of momentum the upside. it is a sign that the economy is improving. there is a large speculation that oil demand will improve. a lot of traders do think that we have hired to go here. the rest of the energy market, gasoline futures are spiking as there is word that one of the major east coast refineries. natural gas prices down 4% in today's trading session. guys, we are nearing $100 a barrel, as far as oil prices are concerned. melissa: sandra smith, thank you so much. lori: three-week since boeing 787 had its latest incident. investigator is shifting our focus. we have the latest details just ahead. melissa: the s&p holding their five year high. ♪ the local melissa: it is time to make money with charles payne. charles: i accidentally went to ugg store. we just dumped into the door. what? i could not believe that you know, you do not like to do things on this anecdotal thing. the last time i went to a retail store that crowded with that type of enthusiasm and electricity was back in 2002. steve madden. the place was buzzing. i cracked a few jokes. no one even knew
? to as to save the economy. are you happy with how things are going? or power panel is here with what should be happening. for all you brides and grooms to my being the case of cold feet, don't despair. a new company lets you buy and sell your wedding. all you have to worry about is the person elected the altar. the woman behind this new business, even when they say it's not, it's always about "money." all right. we start with the first to announce plans on how exactly it hopes to pay for obamacare. a little bit surprising. republican arizona governor says that the tax increase interstate is the answer. the governor proposing a new hospital provided tax, and this is on topple all the taxes we were just three weeks ago. a number of experts and even some hospitals are on board with the governor's new tax hike. with me now is one of them. from the university of arizona public health policy and management professor. welcome to the show. do you think this is a good idea? >> good evening. i think that for arizona this is a very novel and innovative approach to solving a particularly difficult dile
in equity. the economy is going to be lousy for the next two years. >> so we're running this online poll which is asking this question, this lack of current crisis that we have, is that because there has been real progress or is it century? >> no. i think it's a product. the ecb has stepped up and merkel and others committed to some day doing the kinds of physical transfers of banking units they need. and there has been some real progress even off that cleanup. but none of that is going to offset the unemployment numbers, barred from that the lack of investment, the constraint on demand from the austerity programs, the feedback in europe. so, again, it is real progress, but that's not going translate to growth anytime soon. >> when you say not going to translate into growth, what is the outlook? >> to me, what i've been saying for a few months is that europe's past is bounded from below and from above. we've ruled out the worst of the crisis, thank god. but the austerity, unemployment and continued downward wage pressures put a tight ceiling on growth. so germany is growing less than 11%
for the markets and the economy? >> i hope so. if what the republicans are talking about is let's have this debt ceiling skirmish every quarter, every three months, nobody is going to like that, especially the markets, and for very good reason. if what they're say something we're not going to play debt ceiling leverage anymore, which has obviously been the president's position, that's good. my feeling is it's probably the latter. i think there are enough kind of economic grown-ups in the room to really control the folks who have threatened to use that kind of leverage. >> but the senate has not had a budget resolution pass through the senate in, what is it, four years now? >> april, 2009. >> that feels to me pretty shameful frankly. i don't know the politics and i'm not exactly sure why that's the case, but isn't that a critical step in bridging the gap and making progress on these issues where you can not go to these sort of extra legal things like using the debt ceiling as leverage, but you can use the process as it is intended to be used. >> i agree, and it's an interesting quid pro quo for t
: wherever our trains go, the economy comes to life. norfolk southern. one line, infinite possibilities. hey, buddy? oh, hey, flo. you want to see something cool? snapshot, from progressive. my insurance company told me not to talk to people like you. you always do what they tell you? no... try it, and see what your good driving can save you. you don't even have to switch. unless you're scared. i'm not scared, it's... you know we can still see you. no, you can't. pretty sure we can... try snapshot today -- no pressure. >>> good morning. welcome, everybody. our starting point this morning is inauguration day. take a look at the picture of the masses starting to gather on the national mall, here to witness president obama's second public inauguration. our festivities begin at this hour. we're expecting to see the president in roughly 30 minutes or so as he makes his way to mass. john? >> i'm john king. inaugural speeches have been used to set the tone, unite a nation, and to set an example for the rest of the world. we're going to look this morning at the historical significance of today and w
. >> and an international audience watching on tv. a lot of europeans want to know which way the world's biggest economy is headed and can politicians sort things out. here is a man that thinks he can make a difference the second time around. obama then looked forward to his next and final four years in office calling an end to the politics of division and saying the united states could achieve anything if it acted as one. >> a decade of war is now ending. an economic recovery has begun. america's possibilities are limitless, for we possess all of the qualities this world without boundaries demand, youth and drive, diversity and openness. an endless capacity for risk and a gift for reinvention. my fellow americans, we are made for this moment and we will seize it so long as we seize it together. >> our washington correspondent was there. you were at the inauguration. obama had quite a big wish list. take us through it. >> well, it is not really a wish list. inaugural speeches are not the place for a wish list. but you can read between the lines. i would sum it up with two words, unity and equality. a me
economy, the u.s. and pacific, here is what he said. >> the growth of the global economy, 3%, but the average of emerging markets, close to trend, 5%, and while advance economies are going to be growing barely 1%. and with an advanced economies, the euro zone, mostly in recession, uk is borderline recession, and even the united states, compared to other advanced economies growing in my rue is going to grow another year, a trend of 1.6%, 1.7%. keeps unemployment rate very high. >> reporter: and that's important. rate of growth, keeps unemployment very high in this country. key to all of that is some sort of grand bargain, grand deal in washington. not expecting that any time soon. outlook for housing improvement. but not as much as i think all of us would like to see. soledad. >> great, poppy. thanks for that. >>> ahead on "starting point." vice president biden begins his next four years, he reflects on his past term and his a-ha moment and why he decided to take on the nra. >>> she dated lance armstrong for years. sheryl crow is talking about armstrong's confession that, in
, for the war to end. host: let's hear the president speaking on the economy, social security, and medicare. caller: we the people -- [video clip] >> many barely make it. we believe that america's prosperity must rest upon the broad shoulders of a rising middle class. we know that america thrives when every person confined independence. on the wages of honest labor, liberating families from the brink of hardship. we are true to our creed, when a little girl born into bleakest poverty has the same chances to succeed as anyone else because she is an american, free and equal, not just in the eyes of god, but in our own eyes. we the people still believe that every citizen deserves a measure of security and dignity. we must make the hard choices to reduce the cost of health care and reduce the size of our deficits. but we reject the belief that america must choose between caring for the generation that built this country and investing in the generation that will build its future. [applause] we remember the lessons of our past, years spent in poverty, the parents of a child with a disability had
great economies throughout the world trying to continue colonialism or imperialism or whatever you want to call it. zogby to pull back, take care of the u.s. -- we need to pull back. we are shortchanging the u.s. host: this is more from yesterday, secretary clinton giving her assessment. [video clip] >> we live in a dangerous and incredibly complicated world now with very different forces at work. state-based and non-state. technology and communication. i am older than the president. i don't want to surprise anybody by saying that. >> not by much. >> i remember some of the speeches of eisenhower as a young girl. you have got to be careful. you have to be thoughtful. you cannot rush in especially now where it's more complex than it has been in decades. so, yes, there are wicked problems like syria, absolutely. we are on the side of american values, freedom, the aspirations of all people to have a better life, to have the opportunity we are fortunate to have here. but it's not always easy proceed exactly what must be done in order to get to that outcome. so i certainly am grateful for the
time. stay with us. >>> welcome back, everyone. well, the economy has come a long way since president obama's first inauguration. since that first swearing-in ceremony, the stock market has soared. the dow jones industrial average, up nearly 72%. back then, the economy has fallen to its lowest point since the great depression. and digging out has caused one other measure of the economy to soar, the national debt. >>> and soda sales are falling flat. the pace of the decline quickened even during the holiday party season. now, the giant soft drink companies are scrambling to change their directions, pinning their hopes on sports drinks or low or no-calorie versions. older people are now concerned about obesity and diabetes. >>> more super bowl ads will be crowd source this year. you may remember this made by a fan. this time, doritos will air two fan submissions. pepsi and pizza hut are getting into the act, by inviting fans to upload stories that will be woven into commercials will be air during the big game. good luck to those guys. >>> at the movies this weekend, jessica chastain was
are the things hurting our economy making it harder for hard-working taxpayers. john: to be paired up president obama's taxpayers, president obama is not the first to do this. >> if you go back to the founding fathers, if men were angels, we would need lots. about is why we have a checks and balances system of government and the president doesn't believe that that applies to him even when i go back to our first president, george washington said political parties are likely in the course of time to become potent engines in which cunning and ambitious and principled -- unprincipled men assert from themselves the reins of government for unjust dominion. do you see that in washington? >> i want to improve the quality of life of the american people. what you have now seen with that, and we have seen what the president's campaign team, they have moved back to a nonprofit and they are going to take money from unions and corporations. they will not say that they will report how much they get each of those corporations and they say that they would use it for political purposes. not to deal with jobs and
class voters, at a time when the economy is going through a very complicated, difficult moment when it's not clear how to get back to growth, he's thinking creatively about how to use the strength of his state to build on its weaknesseses. and i think at the national level that's what conservatives have to do. to some extempt, it's being done. i would say the policy agenda that has to come at the end of that conversation is not fully worked out by any means, but the questions are being asked. i think the direction of thinking has been helpful even in the wake of the election. if you listen to what people like marco rubio or paul ryan have been saying, it's different from what they themselves were saying six months ago, a year ago. i think the focus is turning to the right place. that doesn't mean that he'll persuade the public, but it certainly helps to ask the right question if you're looking for the right answer. >> where joe, i want to bring up something that my friend john podhoretz mentioned, and i say that carefully because reihan salam, my name has up been butchered by others, s
. and a lot of republicans say it poisoned the waters. when you look at the agenda now, there's the economy, the deficit, gun control, immigration. what should the president do first to show republicans he's not looking for revenge or looking to pick fights? >> i would say the budget. to make an honest attempt on both sides to try to reduce spending or reduce the growth in spending. that to me is the one place where there is enough on the table that both sides can make progress if they want to. you get into gun control, i basically support the president's program, but he's not going to get very much support at all among republicans for that. that's a good political point for him, but i don't see it going anywhere. as far as the illegal immigration or making it legal or whatever, reform, i would say there's an opportunity, people like marco rubio, for instance, and others, and also you have the chamber of commerce, you have some republican vested interest. i would say the budget and immigration are the two areas, spending and immigration. >> can he get through some simple things on gun contr
to do. but he needs to get to work. and the number one problem is the economy. he's got to fix the economy. the fiscal situation has been fixed, to a large extent. the stock market's doubled. that's pretty good. but he has to get everybody working again. it means fix the economy. it means fix the education. so we're bringing kids along that have the skills for 21st century america. his focus has to be on the economy. on the need to reduce unemployment. and frankly, i hope he can, through his own example, restore a sense of civility in the country. >> every president learns a lot. is scarred by the office. also made more wise by the office. what is the one thing you hope president obama has learned over the last four years? >> i hope he's learned that you know, no one part of the government, really, gets it all done. and so, he's got to do a better job of reaching out to members of congress, across both -- across the aisle, to the republicans. and the republicans have to stop buying into things that demonize the president. why aren't republican leaders shouting out about all thi
% of the entire budget of government at a time that the world is getting smaller, that our economy depends on its relationship with every other country in the world, that we face a more global market than any time in our history, so not just in my briefings a s at the state department, but in my conversations with business leaders, in my trips to crisis areas, to war zones, to refugee camps, and in some of the poorest countries on earth, i have been reminded of the importance of the work our state department does to protect and advance america's interests and do the job of diplomacy in a dangerous world and particularly, i think, there is more that can be done to advance our economic capacity and interests. in this debate and in every endeavor, i pledge to work very closely with this committee, mr. chairman, mr. ranking member, not just because it would be my responsibility but because i will not be able to do this job effectively, nor will our country get what it needs to out of these initiatives without your involvement and your ideas going forward. so thank you, mr. chairman and members of the
and the overall shape and direction of the economy. could you speak to that? >> i for started talking about it two years ago. -- i first started talking about it two years ago. i started talking about what was possible with oil. i was a lone wolf in the woods at the time. since then, the bandwagon has loaded up. a lot of other people are saying, yes, it could happen, and it to be very important for america. particularly as it translates from energy to the general economy. there are more pillars' out there, housing, manufacturing -- they depend on recovery. the one that does not is energy, because the international demand is already there. it has been created by china, india. all around the world. the weakened cash in on that. would not have to wait on it. -- we can cash in on that. we do not have to wait on it. we need to keep doing what we're doing. it is going to mean a tremendous amount of jobs. we have seen that all through the midwest. north dakota is certainly a huge example of it. they say now there is to% and unemployed -- 2% unemployed there. we cannot find those folks. [laughter] we're s
the importance of characteristics that will help build the american economy and strengthen american families. third, we create an effective employment verification system that will prevent identity theft and end the hiring of future unauthorized workers. and lastly, we establish an improved process for admitting future workers to serve our nation's workforce needs, while simultaneously protecting all workers. other bipartisan groups of senators have stood in the same spot before, trumpeting similar proposals. but we believe this will be the year congress finally gets it done. the politics on this issue have been turned upside down. for the first time ever, there is more political risk in opposing immigration reform than in supporting it. we believe we have a window of opportunity to act, but we will only succeed if the effort is bipartisan. by their presence today, my republican colleagues are making a significant statement about the need to fix our broken immigration system. we democrats are equally serious. we do not want immigration as a wedge issue. much rather we want a bipartisan bill
. >> the president will either rise and fall about the economy. >> reporter: obama is off to a head start with his current approval rating higher than his first term average. but he still faces fights over gun control. and immigration reform. >> this is when presidents really get tested, when unexpected things happen and they have to react on the spot, in real time. we get to seat real character of a president. >> just 16 presidents have been elected to a second term, including some of the great ones. obama, the 17th, will now get his shot at greatness, or not. you know, both gentlemen agreed that tackling the economy was first priority. they said in order for president barack obama to leave the democratic party stronger, he has to pass immigration reform. that's what you were talking about a while ago. >> isn't that one of the big questions? is his goal his legacy? or is his goal a democratic legacy? >> one guy said within a year. have you a year to really make your mark. the other guy said maybe two years. >> get into the six-year itch in washington. soledad, the first key comes from the preside
tragedy. how can we keep going higher with the disarray in washington? the general sense that the economy's not getting any better. is it? the answer's simple. why you may not think the overall economy is getting better, you're missing the big picture, partner. if you were to ask me to game the market using just one figure, one figure only, it wouldn't be what apple earnings, the gross domestic product, the growth rate of earnings or the dividend yield of the s&p, it would be the weekly jobless claims. the weekly jobless claims is an indicator of future employment in this country. there's absolutely no coincidence that we had five-year highs today in the stock market. at the same time that unemployment claims hit five-year lows. it isn't fanciful that the market's roaring because jobs are being created at accelerating pace. it's the most determinant of the stock market. after all, the market got crushed when unemployment went above 5.5% and soared right into the great recession. i think these positive numbers are occurring because of the certainty that comes from putting a presidential el
as we think about the economy of the united states coming and as you point out, the other developing countries around the world. one of the efforts of this administration has been to promote business advocacy abroad for domestic businesses at home. i led a trade mission to india about a year and a half ago with a number of businesses from new and church, and they talked about how important it was to have that support from the state officials in india as they were looking to try to establish those business relationships. can you talk about how you might continue that and continue that this is something you would be focused on an unwilling to continue to support? >> well, as i said in my opening, i think foreign policy is increasingly economic policy, and we have an undersecretary for economic affairs, economics, energy etc.. i think that the state department historical use to have a foreign commercial service back in 1979. it slipped away. i think the secretary had the time -- i think that is something we ought to be doing in a very significant way. obviously working with the treasury
looking to the folks inside washington, just a better growth for the general economy or what? >> i think mainly it's the growth in the economy. and, you know, just getting those positive indicators going. it does feel like the economy's got it footing. as long as washington doesn't derail it here, i think we'll have a decent year. david: why do you think the economy isn't growing better or? how much should it be growing right now as opposed to 2%? >> i think it'd be nice to see it up at 3, 4%. but i think realistically 3% would be nice. i think it's all to do with uncertainty coming out of washington. the reality is if we could just get that -- corporations have so much money on their balance sheets, retail investors are in such risk-free assets, just give us some -- let this get a little momentum, and i think the market will look after itself. lauren: fred, you've been ceo since october of 2008. you saw the crisis, you saw the recovery. are we in the new normal? is that a word that we should just accept and things are different now, we're going to have this slow growth? >> i think that
for sure where the economy is going. we don't know if that was a temporary thing. we don't know if it was money that came in early because of the federal tax concerns and the people who are the most wealthy in california paying early. the bottom line is we don't really know what those revenues are. i think the governor wants to wait and see what they are before he starts talking about those restorations. you know what, one of the really fascinating things in this speech, the governor made a point of saying, you know, just giving money back to people only to take it away when the economy goes bad is cruel. it's not progressive. it is bad politics. it's bad for the people. it's bad governing. i'm not going to go back and do that. i think you are going to hear the governor make this time and again that we want these programs, but if it's not long-term sustainable money, we shouldn't be spending it. >> since you're talking about long-term projects, john, he still wants the water tunnels. he still wants high-speed rail. how realistic are those goals given that there's so much uncerta
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